BayWa r.e. to sell 140-GWh biogas platform to Macquarie's GIG

German renewables company BayWa r.e. AG has agreed to sell its biogas business, BayWa r.e. Bioenergy GmbH, which is associated with the production of about 140 GWh of biomethane annually, to an investment vehicle of Macquarie's Green Investment Group (GIG)

The value of the deal, which is aligned with BayWa’s strategy to focus on its core business of wind and solar power generation, was kept under wraps.

BayWa r.e. Bioenergy develops, constructs and operates biogas projects which provide biomethane and power to local energy companies, industrial companies and energy traders. The portfolio includes five operational plants in Germany and a pipeline of development projects located across Italy.

GIG is buying the BayWa biogas platform via the Macquarie GIG Energy Transition Solutions fund. The acquisition will help strengthen the business' presence in Germany, Italy and other existing and emerging growth markets in Europe amid the EU push to cut its dependency on imported natural gas.

GIG provides Macquarie Asset Management (MAM) clients with access to green investment opportunities aimed at accelerating the global transition to net zero, having a development pipeline of more than 30 GW in over 25 markets. In July, it invested in US greenfield renewable energy platform Galehead Development, thus gaining access to a 6-GW project pipeline.

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